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Illinois federal judge sides with CFTC and Kalshi, halts state enforcement
- Illinois federal judge sides with CFTC and Kalshi, halts state enforcement — U.S. District Judge Martha Pacold granted preliminary injunctions on October 2 blocking Illinois Attorney General Kwame Raoul from enforcing state laws against Kalshi, the CFTC and Coinbase, finding sports event contracts likely qualify as swaps under the Commodity Exchange Act. The ruling ends a losing streak for prediction markets in state-level court fights. (SBC Americas)
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